E12-24

December 31. December 31 Requirements 1. Journalize the issuance of the bonds on June 30. 2. Journalize the semiannual interest payment on December 31 E12-22 Journalizing bond issuance and interest payments Learning objective 3 On June 30, Danver Limited issues 5%, 20-year bonds payable with a face value of 1 June 30 Discount DR ST.200 $120,000. The bonds are issued at 94 and pay interest on June 30 and December 31. Requirements 1. Journalize the issuance of the bonds on June 30. 2. Journalize the semiannual interest payment and amortization of bond discount on December 31 Learning objective 3 E12-23 J bond transactions ournalizing Franklin issued sso,ooo of 10-year, 8% bonds payable on January 1, 2016. Franklin 2. Interest Expense DR S3A pays interest each January 1 and July 1 and amortizes discount or premium by the straight-line amortization method. The company can issue its bonds payable under various conditions. uirements 1. Journalize Franklin's issuance bonds and first semiannual interest payment assuming the bonds were of the required. issued at face value. Explanations are not 2. Journalize Franklin's issuance of the bonds and first semiannual interest payment assuming the bonds were issued at 94. Explanations are not required. 3. Journalize Franklin's issuance of the bonds and first semiannual interest payment assuming the bonds were issued at 103. Explanations are not required. 4. hich bond price results in the most interest expense for Franklin? Explain in detail Learning Ob E12-24 Journalizing bond issuance and interest payments On January 1, 2016, Dave Unlimited issues 10%, 20-year bonds payable with a face 1. Premium CE value of $180,000. The bonds are issued at 102 and pay interest on June 30 and December 31